Millicom International Cellular: Millicom Annual General Meeting and the subsequent Extraordinary General Meeting of Shareholders

Luxembourg, May 17, 2016 - Millicom International Cellular S.A.("Millicom"), the international telecommunications and media company(Stockholmsbörsen: MIC) today held its Annual General Meeting and asubsequent Extraordinary General Meeting of Shareholders inLuxembourg.

The Annual General Meeting (the "AGM") and the Extraordinary GeneralMeeting (the "EGM") resolved in accordance with all proposals of theBoard and the Nomination Committee.

The AGM approved the annual accounts and the consolidated accounts forthe financial year ended 31 December 2015 and resolved to distributea dividend amount of USD 2.64 per share to shareholders/SDR. Paymentof the dividends is planned for around 25 May 2016. On a parentcompany basis, Millicom generated a loss of USD 401,394,955 which wasresolved to be allocated to the profit or loss brought forwardaccount.

The AGM re-elected Mr. Tomas Eliasson, Mr. Lorenzo Grabau, Mr.Alejandro Santo Domingo and Mr. Odilon Almeida as Directors andelected Mr. Thomas Boardman, Ms. Janet Davidson, Mr. José MiguelGarcia Fernández and Mr. Simon Duffy as new Directors for a termending on the day of the next AGM to take place in 2017 (the "2017AGM").

Mr. Thomas Boardman was elected as Chairman of the Board of Directorsfor a term ending on the day of the 2017 AGM.

The AGM approved the re-election of Ernst & Young S.à.r.l., Luxembourgas the external auditor of Millicom for a term ending on the day ofthe 2017 AGM.

The AGM resolved to discharge all the Directors of Millicom for theperformance of their mandates during the financial year ended 31December 2015.

The AGM also resolved to:

Approve remuneration to the Board and auditor and procedures for theNomination Committee.

Approve the guidelines for the remuneration of senior management.

Approve a Share Repurchase Plan.

The EGM resolved to change the date on which Millicom's annual generalmeeting shall be held to the first Thursday of May each year and toamend article 19 of the articles of association (the "Articles")accordingly. Further the EGM resolved to change the signing powers inrelation to copies or extracts of resolutions of the Board ofDirectors so as to empower the Chairman, the chairman of the relevantmeeting of the Board of Directors and any two members of the Board ofDirectors in this respect and to amend article 9 paragraph 2 of theArticles accordingly.

All other resolutions proposed to Millicom's AGM and EGM as set out inthe convening notice published by way of a press release on 13 April2016, were duly passed. Further details can be found in the conveningnotice for the AGM/EGM.

Biographical details of the new Directors are as follows:

Tom Boardman

Tom Boardman has been a Director of the Board of Investment ABKinnevik since 2011, and has been proposed to be elected Chairman ofKinnevik's Board in May 2016. He is also a Non-Executive Director ofNedbank Group, Woolworths Holdings, Royal Bafokeng Holdings andAfrican Rainbow Minerals, and was a Non-Executive Director of VodacomGroup between 2009 and 2011. Tom held various managerial positionswithin the South African mining and retailing industries during1973-1986. Between 1986 and 2002 he held managerial positions withinthe BoE Bank and during 2003-2010 he was Chief Executive of NedbankGroup. Tom is a South African national with a B Com and CTA fromUniversity of Witwatersrand, South Africa.

Janet Davidson

Janet Davidson is currently a Supervisory Board member ofSTMicroelectronics. Janet held various managerial positions inAlcatel Lucent from 1979-2011 including the role as Chief StrategyOfficer, Chief Compliance Officer and Executive Vice President,Quality & Customer Care. Janet is a US national with an MSc inElectrical Engineering from Georgia Institute of Technology.

Simon Duffy

Simon Duffy is the Non-Executive Chairman of YouView TV and aNon-Executive director of Modern Times Group, Oger Telecom, and WizzAir. Simon was Executive Chairman of Tradus until the company's salein March 2008. He was also Executive Vice Chairman of ntl:Telewestuntil 2007, having joined ntl in 2003 as CEO. Simon has also servedas CFO of Orange, CEO of wireless data specialist End2End, CEO andDeputy Chairman of WorldOnline International, and held seniorpositions at EMI Group and Guinness. Simon is a UK national with a BAfrom Oxford University and an MBA from Harvard University.

Jose Miguel García Fernández

Jose Miguel García Fernández recently stepped down as Co-ChiefExecutive Officer of Orange España. Between 2006 and 2015 he was CEOof the Spanish telecommunications operator Jazztel, and he heldvarious managerial positions within Cable & Wireless from 2000-2006including CEO of UK & Ireland as well as of Panama. Jose is a Spanishnational with a BSc in Electrical & Electronic Engineering andPostgraduate in Digital Telecommunications from Monash University.

Millicom is a leading telecom and media company dedicated to emergingmarkets in Latin America and Africa. Millicom sets the pace when itcomes to providing innovative and customer-centric digital lifestyleservices to the world's emerging markets. The Millicom Group employsmore than 16,000 people and provides mobile services to more than 62million customers. Founded in 1990, Millicom International CellularSA is headquartered in Luxembourg and listed on Nasdaq Stockholmunder the symbol MIC. In 2015, Millicom generated revenue of USD 6.73billion and Adjusted EBITDA of USD 2.27 billion.